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Will it immediately move to full transaction price, or does this jurisdiction use some sort of flat percentage increase.You should know how frequently the property will be reassessed thereafter.

You've got this!

You'll find a ton of kind, supportive, and helpful people here.Are your existing 7 properties currently in Chicago? 

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

In fact, I would bet that 99.9% of all wholesalers could spend the some number of hours working at McDonalds and they would make more money.I recommend you focus on the house hack.

Is there any team/commission agreement that you've signed with your broker to outline what the splits are in a situation like this?

Pretty solid deal under 190k and in Bagley area us 5 bedrooms. 

One of the reasons why I’m bullish on real estate investing is because I am more afraid of the “what if I didn’t invest” rather than the “what if it goes wrong.”Yes, I could fail and lose everything I started with, but I’d still be farther along than if I never started at all.I’d have the knowledge, skills, and lessons that only come from taking action.Every misstep is a step forward when you’re learning and adapting.The real risk isn’t failure, it’s standing still and letting fear hold you back.Take action!!!

But even with that, he needs someone to guide him or JV with him who isn't going to take advantage of his youth and inexperience.